West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1887-05-26
REVIEW OF BUSINESS.
THE RrvoLUTIoN IN TRADE
Money Abundant Eyerywhero. Eek.
cept I'm New York and Chicago
Decline i'm Exports.


The most important news of the week, Il
confirmed, is that tho Interstate Commer,
Commission will revoke all temporary sus
pensions Of the short-haul clause, terminal
ing them July l. The revolution in cuisines,
must therefore progress, until its fun effect,
have been realized. Some Of them are seer
In the contract taken by tho Cana
dian Pacific 10 move eastward the
wool of California, and 100000
pounds OF sugar, and i'm marked revival OF
shipments around the Horn. Others appear
in the decline Of trade at the larger centersof
distribution and Manufacture, and the in
crease OF distribution at smaller towns. with
tho upspringing of new manufacturing works
at many localities For twenty-five years the
railroads have been annihilating barriers OF
distance. Tho new law tends to restore the
barriers, and to put sections, cities and towns
further away from each other. Closely con.
nected are the new labor troubles, most Of
which grow out OF narrowed fields for dis
tribution OF products Local receipts are still
generally encouraging, with no instance OF
unusual delay in collections. Where business
Is deemed dull it is in every case pronounced
larger than at the slime season last year
A REMARKABLE FEATURE
is that money is reported in abundant supply
everywhere except Chicago and New York
while the demand is said to be more limited
at Detroit, but very good at Cleveland
where tho highest rates are reported, as at
Omaha to 10 per cent, capitalists offer
banks large sums at per cent, which are re-
fused Reales speculation is maintained
there, and at other points, by rapid invest
ment OF local and Eastern. capital; at Nash.
vile the ruling excitement is the coming sale
of lots in the town, West Nashville, where
new iron-works are TO be located.
The increased demand for money at Chi
cago springs from wheat speculation, and
produce operators are busily seeking assur
ances of more aid from banks while New
York exchange falls to 40 cent discount.
Wheat rose &c last Saturday, but weakened
again, and after week of uncertainty, with
sales of 100000 bushels closes less
than a cent above last week Corn and oats
are weaker, oil over lie lower; pork products
dull and sugar unchanged In coffee there
has been wild advance, with sales of 952, 900
bags, but the rise of lie is wholly speculative
Stock speculation has been active, with some
NN'NNNi puN VIC pubic Is not alb
sorbing securities. The enormous Offering ON
the Paris loan, and the low rate for money
at London, account for the temporary use OF
large amounts here.
DECLINE IN EXPORTS.
The weak point is the decline of 93 DER
cent. in produce exports for the past three
weeks, against an increase of 8 per cent. in
imports. In dry goodsa strong improvements
IN cotton causes an advance in prices of
many brown ned bleached goods and drills
with standard browns at l-4c, but the ex-
ceeding dizziness in woolens continues I'M
relieved. Recent heavy failures of German
houses in the American trade disclose over
production and unqrofitable competition on
that side.
The business failures during the last seven
days number, for the United States 1872: for
Canada, %; total $50 against 1G7 last week
ls2 the week previous to the last, and 1877 for
the corresponding week last year Failures
in the South are very light, and the other
sections of the country are below the average
perhaps, next in the Pacific States and Canada
where casualties are on the increosa